- New permissionless instruction to regularly charge collateral fees
- Bank and group configuration to set rate and interval
- Keeper addition to call the instruction
The liqor liquidation fee and platform liquidation fee for the asset and
liab token are both payed by the liqee.
The platform liquidation fee is added to the Bank's
collected_fees_native and tracked in collected_liquidation_fees.
- limit deposits (via deposit, flash loan, tcs)
- limit potential deposits via openbook settle
by restricting placable orders via potential_serum_tokens
- introduce Serum3PlaceOrderV2 for this purpose
- account for new limits in liquidator, max_swap
- track min bid, max ask
- track maximal token outflow from oo
- add serum3_place_order_v2 with mutable receiver bank
- placing openbook orders is restricted to a certain distance from the
oracle
- token_edit can set it up to gradually scale to new target values
- security admin can abort an ongoing change via token_edit
- all health computations are now time dependent and get the weight
based on it
- when the change is done, the keeper "cleans up" and moves the new
values into the default fields
Many instructions now return PreparedInstructions instead of a direct
Instruction or Vec<Instruction>. That way they can keep track of the
expected cu cost of the instructions for the compute limit instruction
that gets added once all instructions are made.
Which applies to the in token amount of swaps only.
Charging a deposit fee on flash loans was a bad idea:
- It incentivizes flash loan users to make the deposit a separate
instruction, defeating the purpose.
- For swaps, it makes traders pay a loan origination fee in in-token and
a deposit fee in out-token, leading to more complex bookkeeping and ui
display.
Instead, charge a fee on the in-token for all flash loans explicitly
marked as swaps only.
* tests: Upgrade tx log capturing
Instead of overriding the system logger to intercept the logs, we can
now ask solana to return the logs of a tx execution directly.
This speeds up tests a lot because we don't need to hold a global lock
on tx execution anymore!
* tests: Improve token, serum, perp cu test
* benchmark: add a few more operations
- The AccountExpand instruction can now shrink accounts by reducing
the number of token/perp/serum/tcs/perp oo slots.
- A new AccountSizeMigration instruction can permissionlessly shrink
accounts that are too large and migrate them to the v3 layout.
- Rename the new "swap fee" to "deposit fee" and let it apply to all
deposits, not just for Swap-type flash loans.
- But don't apply it to withdrawals (effectively giving rebates!)
Result of audit feedback
* Account size: Don't fail on unrelated resize
If the account was previously resized to larger than is allowed now,
don't fail unrelated resizes.
* Further reduce account size limits
Out of caution and future-proofing. Can always raise again.
Perp settle pnl needs 6 accounts plus 2 health account lists that could
be nearly fully disjoint.
Tcs orders always store prices in a fixed "sell per buy" style, but users
can create them in either price direction. When they look at them later,
the ui needs to know what their preferred style is for this order.
To have more precision when storing user supplied prices and ensure that
the rounding that will occur will be tiny compared to the user-provided
precision.
Users can request token swaps to happen when the oracle price
is within a price band. Once the price is right, an executor can
trigger the swap. The executors are rewarded with a premium
over the oracle price.
This allows limit and stop loss orders on arbitrary spot pairs.
The PR comes with basic ts support and adjustments to the liquidator,
to execute available token conditional swaps.
Co-authored-by: microwavedcola1 <microwavedcola@gmail.com>
This changes perp market margining to no longer assume all pnl is in USD
while settlement is in USDC. Instead, a configurable settle token is used for
pnl and settlement, defaulting to USDC.
There is no difference while the USDC price is forced to $1 and the init and liab
weights are 1. But with this patch, it becomes possible to change that.
For now it is not recommended to use a token other than USDC or USDT (or
another USD targeting stable token) for perp settlement.
The patch also updates all insurance vault use to be aware that the insurance
fund is not in USD but in USDC and apply the USDC price before payouts.
To do this, the previous PerpLiqNegativePnlOrBankruptcy was replaced by
a new PerpLiqNegativePnlOrBankruptcyV2 instruction.
Co-authored-by: microwavedcola1 <89031858+microwavedcola1@users.noreply.github.com>
It looks like it wasn't possible to exploit the program by
re-initializing the user-owned token accounts used in flash loan because
the later use of health_ais with the health computation would error out
if any token account was included there.
However, the check and a few others were too indirect. In this patch:
- We pass the number of loans into FlashLoanEnd explicitly (verified
from FlashLoanBegin)
- Add explicit checks for token mints, so it's no longer possible to use
token accounts for foreign mints in Begin when the loan amount is zero,
and it's clearer to see that the bookkeeping in End won't break if the
user reinited the account for a different mint.
- Also add a few other extra comments and checks.
The updated FlashLoanEnd instruction is called FlashLoanEndV2
Christian Kamm
Lou-Kamades
Britt Cyr
Lou-Kamades
Maximilian Schneider
microwavedcola1